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End of month rally with 7514 7543 resistance | 7480 7457 support | SPX Breakout
FTSE 100 trading, analysis & prediction for 29th June 2023
The FTSE 100 ended trading 0.38pc lower at 7,471.69, while the FTSE 250 midcap index finished down 0.77pc at 18,270.73. The FTSE 100 has closed in the red after shares in British water utilities sank amid mounting concerns over Thames Water. The UK’s blue-chip index shed almost 0.4pc after Severn Trent’s share price dropped by 2.9pc and United Utilities Group tumbled by 2.53pc.
Asian stocks eased on Friday after a set of strong U.S. economic data bolstered the view that the Federal Reserve will likely keep interest rates higher for longer, while the yen breached a psychologically important barrier amid intervention worries.
MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.21% but was on course to eke out a gain of over 1% in the first half of the year.
FTSE 100 trading, outlook and prediction
The bulls are certainly trying to keep the momentum going, especially on the S&P500, which is flirting with the 4400 level this morning. The bulls will be aiming to defend any drops and will be trying for a push up towards the 4420 level where we have R2 for today. That in turn may well help the FTSE 100 to defend any drops as well, and push up towards the 7555 daily resistance level.